ADM 2341 Chapter Notes - Chapter 1-5, 9: Degree Of Difficulty, Cost Driver, Json

• School: University of Ottawa
• Department: Administration
• Course: ADM 2341
• Professor: Bruce Larochelle

Document Summary

Adm2341 chapter 1: managerial accounting and the business environment. Play a key role in decision making across the various functional areas of an organization. The role of the management accountant in value creation. Have expertise in cost management, performance measurement, and risk management. Must be aware of the needs and concerns of a broader set of stakeholders (social/environmental responsibility) Adhere strictly to a high standard of professional ethics (competence, confidentiality, integrity, credibility) Managerial accounting: form of accounting concerning providing information to managers for use in planning and controlling operations and for decision making. Financial accounting: form of accounting concerning providing information to shareholders, creditors, and others outside the organization. The work of managers and their need for ma information: planning: developing goals and specifying how to achieve them. Identify alternatives selective alternative that does the best job of furthering organization"s objectives develop budges to guide progress towards the selected alternative.